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MF Global customer accounts may be missing $1.2 billion, trustee says

MF Global customer accounts may be missing $1.2 billion, trustee says

The amount of customer funds missing from accounts at the bankrupt brokerage MF Global “may be as much as $1.2 billion or more,” the trustee overseeing the firm’s liquidation said Monday. That would be roughly double previous estimates of about $600 million. In a statement, trustee James W. Giddens said the estimate is preliminary and “may well change.”

 

MF Global activity looks "suspicious": CFTC official

A U.S. futures regulator said on Tuesday that activity leading up to the bankruptcy of brokerage MF Global appears to be "either nefarious or illegal."

 

More than 1,000 MF Global workers let go

More than 1,000 MF Global workers let go

The 1,066-member workforce of MF Global Holdings Ltd's brokerage has been terminated, the latest aftershock to the parent company's $41 billion collapse nearly two weeks ago.

 

DealBook: MF Global Funds Found at JPMorgan

DealBook: MF Global Funds Found at JPMorgan

The discovery comes after days of intensifying regulatory scrutiny at MF Global, which filed for bankruptcy on Monday.

 

CEO Corzine steps down at MF Global

CEO Corzine steps down at MF Global

He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers. Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure. Less than a week ago, Corzine had expected to sell his firm, MF Global. By week's end, it had collapsed into bankruptcy. And Corzine had hired a criminal defense lawyer in the face of an investigation of the firm by the FBI and federal prosecutors.

Senh: When there is such an obvious conflict of interest as this, why isn't Gary Gensler removed from the investigation team. The guy has worked with and has close ties to Jon Corzine. It's apparent that he's not going to have the best interest of clients who has lost millions.

 

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